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20110724
20110724
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house chief of staff bill daley; senate negotiators democrat dick durbin and republican jon kyl; and two members of the so-called gang of six who forged one of the first plans-- senator mark warner and saxby chambliss. it's all ahead on "face the nation." captioning sponsored by cbs "face the nation" with cbs news chief washington correspondent bob schieffer. and now from washington, bob schieffer. >> schieffer: good morning again. we start with white house chief of staff bill daley. mr. daley, the republican speaker john boehner now seems to be thinking of a two-part plan here. first, congress would agree to cut spending over the next ten years by a trillion dollars and raise the debt limit enough to meet the country's financial obligations through the end of the year. then, a 12-person bipartisan committee would be formed to find $3 trillion more in savings and making significant cuts in medicare and social security and overhauling the tax code. congress would then take another vote to raise the debt limit before the 2012 elections. democrats and the white house have already said there
congressional leaders are trying to reach a deal before the nation defaults on its loans. house speaker jon weiner may announce a plan by this afternoon to head off negative effects that could happen when the asian markets open on monday. now, he's seeking a deal to raise the debt ceiling and cut spending by equal amounts. top democrats, including president obama, say they will not support a proposal that does not solve the debt ceiling problem through 2012. >> everyone is going to have to be willing to compromise, otherwise, we will never get anything done. >> the american people have long since said it had to quit spending money we don't have. >> white house and congressional officials say that several proposals are still being discussed. >> well, that's certainly an ugly mess. a lot of people are frustrated over the deadlock. congressman pete stark addressed concerns during a town hall meeting in alameda and yesterday. one of the people came -- one of the biggest worries was what would happen to programs that congress can't hammer out? >> a lot of people living on social security and tha
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